Type: Event
CHARLOTTE, N.C. , Jan. 9, 2025 /PRNewswire/ -- , Albemarle Corporation, (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, announced today that it will release its fourth-quarter 2024 earnings after the NYSE closes on Wednesday, February 12, 2025. The company will hold a conference call to discuss its fourth-quarter 2024 results on Thursday, February 13, at 8 a.m. ET. Access to the call is available via webcast…, http://investors.albemarle.com, . Direct dial numbers are provided below:, Participant Dial-in Numbers: , U.S. & Canada Toll-Free: 1 (800) 590-8290 International: 1-240-690-8800 Conference ID: ALBQ4, Webcast Details:, Event Title: Albemarle Q4 2024 Earnings Call Event Date: February 13, 2025 Start Time: 8 a.m. ET, Attendee URL: , https://albemarle-q4-2024-earnings-call.open-exchange.net/ , Replay Information: , A webcast replay will be available following the conclusion of the event through the News and Events page on Albemarle's website, http://investors.albemarle.com ., About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about…, Investor Relations Contact:, +1 (980) 299-5700, [email protected] , Media Contact: Peter Smolowitz, , +1 (980) 308-6310, [email protected] View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-corporation-to-release-fourth-quarter-2024-earnings-results-on-wednesday-february-12-2025-302347381.html SOURCE Albemarle Corporation Type: Article
CHARLOTTE, N.C. , Feb. 12, 2025 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced its results for the fourth quarter and full year ended December 31, 2024., Fourth Quarter, and Full Year 2024 Results and Highlights, (Unless otherwise stated, all percentage changes represent year-over-year comparisons) Fourth quarter net sales of $1.2 billion; net income of $75 million, or $0.29 per diluted share; adjusted diluted loss per share of ($1.09) Fourth quarter adjusted EBITDA of $251 million, with year-over-year increases in all business segments (Energy Storage up $290 million, Specialties up $43 million and…, Broad Actions Executed and Underway to Maintain Long-Term Competitiveness, In 2024 and continuing into 2025, Albemarle has rapidly adjusted to market realities with steps that enhance our resilience, including:, Optimizing conversion network:, achieved record production in the fourth quarter at La Negra and Meishan lithium conversion plants; announcing today plans to place Chengdu site into care and maintenance by mid-2025 and to shift a portion of Qinzhou production from hydroxide to carbonate, Improving costs and efficiency:, streamlined organizational structure; achieved at year-end over 50% run-rate relative to the $300-400 million cost and productivity improvement target, Reducing capital expenditures:, proactively re-phased growth investments; reduced 2024 capex by over $450 million year-over-year and plan to significantly reduce further in 2025, Enhancing financial flexibility:, pursued multiple cash generation steps and proactively amended credit agreement to fortify balance sheet and navigate near-term dynamics, Fourth Quarter 2024 Results, In millions, except per share amounts, Q4 2024, Q4 2023, $ Change, % Change, Net sales $ 1,231.7 $ 2,356.2 $ (1,124.5) (47.7) % Net income (loss) attributable to Albemarle Corporation $ 75.3 $ (617.7) $ 693.0 (112.2) % Adjusted EBITDA (a)(b) $ 250.7 $ (134.9) $ 385.6 (285.8) % Diluted earnings (loss) per share attributable to common shareholders $ 0.29 $ (5.26) $ 5.55 (105.5) % Non-operating pension and OPEB…, Energy Storage Results, In millions, Q4 2024, Q4 2023, $ Change, % Change, Net Sales $ 616.8 $ 1,675.1 $ (1,058.3) (63.2) % Adjusted EBITDA $ 133.7 $ (156.1) $ 289.8 (185.6) % Energy Storage net sales for the fourth quarter of 2024 were $617 million, a decrease of $1.1 billion, or 63%, due to lower pricing (-53%) and lower volumes (-10%) related to the timing of chemical-grade spodumene sales and planned lithium…, Specialties Results, In millions, Q4 2024, Q4 2023, $ Change, % Change, Net Sales $ 332.9 $ 339.6 $ (6.7) (2.0) % Adjusted EBITDA $ 72.9 $ 29.8 $ 43.0 144.2 % Specialties net sales for the fourth quarter of 2024 were $333 million, a decrease of $7 million, or 2%, primarily due to lower prices (-5%), which more than offset higher volumes (+3%). Adjusted EBITDA of $73 million increased $43 million…, Ketjen Results, In millions, Q4 2024, Q4 2023, $ Change, % Change, Net Sales $ 281.9 $ 341.5 $ (59.5) (17.4) % Adjusted EBITDA $ 35.8 $ 31.3 $ 4.5 14.4 % Ketjen net sales for the fourth quarter of 2024 were $282 million, down 17% compared to the prior-year quarter as higher prices (+1%) were more than offset by lower volumes (-19%), primarily due to timing of sales volumes. Adjusted EBITDA of $…, 2025 Outlook Considerations, Total Corporate Outlook Considerations, The table below reflects expected outcomes for the total company based on recently observed lithium market price scenarios. Ranges are based on variation in sales volume and mix, including a projected increase in Energy Storage volumes of 0% to 10% in 2025 compared to 2024. All three scenarios assume flat market pricing flowing through Energy Storage's current contract book. Scenarios also assume…, Total Corporate FY 2025E, Including Energy Storage Scenarios, Observed market price case (a) YE 2024 H1 2024 range Q4 2023 average Average lithium market price ($/kg LCE) (a) ~$9 $12-15 ~$20 Net sales $4.9 - $5.2 billion $5.3 - $6.1 billion $6.5 - $7.0 billion Adjusted EBITDA (b) $0.8 - $1.0 billion $1.2 - $1.8 billion $2.5 - $2.7 billion (a) Price represents blend of relevant market pricing including spot and regional indices for the periods referenced. (b…, Energy Storage Market Price Scenarios, Energy Storage FY 2025E, Observed market price case (a) YE 2024 H1 2024 range Q4 2023 average Average lithium market price ($/kg LCE) (a) ~$9 $12-15 ~$20 Net sales $2.5 - $2.6 billion $2.9 - $3.5 billion $4.2 - $4.5 billion Adjusted EBITDA $0.6 - $0.7 billion $1.0 - $1.5 billion $2.2 - $2.4 billion Equity in net income of unconsolidated investments (net of tax) (b) $0.2 - $0.3 billion $0.3 - $0.5 billion $0.6 - $0.7…, Specialties and Ketjen Outlook Considerations, Specialties outlook reflects modest volume growth in key end markets led by pharma, automotive, and oilfield, partially offset by weakness in building and construction. Ketjen outlook assumes favorable product revenue mix, lower input costs and the continuation of its turnaround plan execution., Segment FY 2025E, Specialties net sales $1.3 - $1.5 billion Specialties adjusted EBITDA $210 - $280 million Ketjen net sales $1.0 - $1.1 billion Ketjen adjusted EBITDA $120 - $150 million, Other Corporate Outlook Considerations, Albemarle expects its 2025 capital expenditures to be in the range of $700 million to $800 million, down more than 50% from $1.7 billion in 2024. This level of spending reflects a prioritization on sustaining existing assets and resources, with the remainder allocated to select growth projects and high-return, quick payback improvements., Other Corporate FY 2025E, Capital expenditures $700 - $800 million Depreciation and amortization $630 - $670 million Adjusted effective tax rate (a) (40%) - 25% Corporate costs $70 - $100 million Interest and financing expenses $180 - $210 million Weighted-average common shares outstanding (diluted) 118 million (a) Adjusted effective tax rate dependent on lithium market prices and geographic income mix , Cash Flow and Capital Deployment, Cash from operations of $702 million for the year ended December 31, 2024 decreased $623 million compared to the prior-year period. This was driven by lower adjusted EBITDA and reduced dividends received from equity investments, partially offset by inflows from working capital. Capital expenditures of $1.7 billion were in-line with outlook considerations and decreased by $463 million versus the…, Balance Sheet and Liquidity, As of December 31, 2024, Albemarle had estimated liquidity of approximately $2.8 billion, including $1.2 billion of cash and equivalents, $1.5 billion available under its revolver and $99 million available on other credit lines. Total debt was $3.5 billion, representing a debt covenant net debt to adjusted EBITDA of approximately 2.6 times., Earnings Call, Date: Thurs., Feb. 13, 2025 Time: 8:00 AM Eastern time Dial-in (U.S.): +1 800-590-8290 Dial-in (International): +1 240-690-8800 Passcode: ALBQ4 The company's earnings presentation and supporting material are available on Albemarle's website at https://investors.albemarle.com ., About Albemarle, Albemarle Corporation (NYSE: ALB) is a global leader in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allow us to deliver advanced solutions for our customers. Learn more…, www.albemarle.com, , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, Securities and Exchange Commission ("SEC") filings and other information regarding the company, its businesses and the markets it serves., Forward-Looking Statements, This press release contains statements concerning our expectations, anticipations and beliefs regarding the future, which constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, which are based on assumptions that we have made as of the date hereof and are subject to known and unknown risks and…, Three Months Ended, Year Ended, December 31,, December 31,, 2024, 2023, 2024, 2023, Net sales $ 1,231,713 $ 2,356,165 $ 5,377,526 $ 9,617,203 Cost of goods sold 1,093,500 3,060,217 5,314,987 8,431,294 Gross profit (loss) 138,213 (704,052) 62,539 1,185,909 Selling, general and administrative expenses 135,996 193,956 618,048 910,002 Restructuring charges and asset write-offs (22,206) 295 1,134,316 9,491 Research and development expenses 20,021 22,753 86,720 85,725 Gain on change…, December 31,, December 31,, 2024, 2023, ASSETS, Current assets: Cash and cash equivalents $ 1,192,230 $ 889,900 Trade accounts receivable 742,201 1,213,160 Other accounts receivable 238,384 509,097 Inventories 1,502,531 2,161,287 Other current assets 166,916 443,475 Total current assets 3,842,262 5,216,919 Property, plant and equipment 12,523,368 12,233,757 Less accumulated depreciation and amortization 3,191,898…, LIABILITIES AND EQUITY, Current liabilities: Accounts payable to third parties $ 793,455 $ 1,537,859 Accounts payable to related parties 150,432 550,186 Accrued expenses 467,997 544,835 Current portion of long-term debt 398,023 625,761 Dividends payable 61,282 46,666 Income taxes payable 95,275 255,155 Total current liabilities 1,966,464 3,560,462 Long-term debt 3,118,142 3,541,002…, Year Ended, December 31,, 2024, 2023, Cash and cash equivalents at beginning of year $ 889,900 $ 1,499,142 Cash flows from operating activities: Net (loss) income (1,135,477) 1,670,543 Adjustments to reconcile net (loss) income to cash flows from operating activities: Depreciation and amortization 588,638 429,944 Non-cash restructuring and asset write-offs 1,013,444 — Gain on change in interest in properties/sale of business,…, Three Months Ended, Year Ended, December 31,, December 31,, 2024, 2023, 2024, 2023, Net sales:, Energy Storage $ 616,822 $ 1,675,088 $ 3,015,121 $ 7,078,998 Specialties 332,942 339,623 1,325,983 1,482,425 Ketjen 281,949 341,454 1,036,422 1,055,780 Total net sales $ 1,231,713 $ 2,356,165 $ 5,377,526 $ 9,617,203, Adjusted EBITDA:, Energy Storage $ 133,678 $ (156,127) $ 757,540 $ 3,181,593 Specialties 72,875 29,841 228,504 298,506 Ketjen 35,778 31,288 131,066 103,872 Total segment adjusted EBITDA 242,331 (94,998) 1,117,110 3,583,971 Corporate 8,353 (39,932) 22,668 (37,983) Total adjusted EBITDA $ 250,684 $ (134,930) $ 1,139,778 $ 3,545,988 See accompanying non-GAAP reconciliations below., Additional Information regarding Non-GAAP Measures, It should be noted that adjusted net income (loss) attributable to Albemarle Corporation, adjusted net income (loss) attributable to Albemarle Corporation common shareholders, adjusted diluted (loss) earnings per share attributable to common shareholders, non-operating pension and other post-employment benefit ("OPEB") items per diluted share, non-recurring and other unusual items per diluted…, ALBEMARLE CORPORATION AND SUBSIDIARIES, Non-GAAP Reconciliations, (Unaudited), See below for a reconciliation of adjusted net income (loss) attributable to Albemarle Corporation, adjusted net income (loss) attributable to Albemarle Corporation common shareholders, EBITDA and adjusted EBITDA (on a consolidated basis), which are non-GAAP financial measures, to Net income (loss) attributable to Albemarle Corporation ("earnings"), the most directly comparable financial measure…, Three Months Ended, Year Ended, December 31,, December 31,, 2024, 2023, 2024, 2023, In thousands, except percentages and per share amounts, $, % of net sales, $, % of net sales, $, % of net sales, $, % of net sales, Net income (loss) attributable to Albemarle Corporation $ 75,293 $ (617,680) $ (1,179,449) $ 1,573,476 Add back: Non-operating pension and OPEB items (net of tax) (8,014) (8,107) (9,045) (6,966) Non-recurring and other unusual items (net of tax) (153,490) 16,262 1,049,823 226,356 Adjusted net (loss) income attributable to Albemarle Corporation $ (86,211) $ (609,525) $ (138,671) $ 1,792…, Three Months Ended, Year Ended, December 31,, December 31,, 2024, 2023, 2024, 2023, MTM actuarial gain $ (9,831) $ (10,174) $ (9,831) $ (10,174) Interest cost 8,696 8,859 34,225 35,950 Expected return on assets (9,207) (8,489) (35,729) (33,747) Total $ (10,342) $ (9,804) $ (11,335) $ (7,971) In addition to the non-operating pension and OPEB items disclosed above, the company has identified certain other items and excluded them from Albemarle's…, Three Months Ended, Year Ended, December 31,, December 31,, 2024, 2023, 2024, 2023, Restructuring charges and asset write-offs (1) $ (0.21) $ — $ 9.77 $ 0.06 Acquisition and integration related costs (2) 0.01 0.03 0.04 0.18 Goodwill impairment (3) — 0.05 — 0.05 Gain on change in interest in properties, net (4) — (0.40) — (0.40) Loss in fair value of public equity securities (5) 0.03 0.51 0.53 0.29 Legal accrual (6) — — — 1.82 Other (7) (0.19) (0.…, Income (loss) before income taxes and equity in net income of unconsolidated investments, Income tax expense (benefit), Effective income tax rate, Three months ended December 31, 2024:, As reported $ 76,727 $ 10,613 13.8 % Non-recurring, other unusual and non-operating pension and OPEB items (49,232) 112,272 As adjusted $ 27,495 $ 122,885 446.9 %, Three months ended December 31, 2023:, As reported $ (920,951) $ 118,878 (12.9) % Non-recurring, other unusual and non-operating pension and OPEB items 5,286 (2,869) As adjusted $ (915,665) $ 116,009 (12.7) %, Year ended December 31, 2024:, As reported $ (1,763,825) $ 87,085 (4.9) % Non-recurring, other unusual and non-operating pension and OPEB items 1,178,692 137,914 As adjusted $ (585,133) $ 224,999 (38.5) %, Year ended December 31, 2023:, As reported $ 246,738 $ 430,277 174.4 % Non-recurring, other unusual and non-operating pension and OPEB items 216,516 (2,874) As adjusted $ 463,254 $ 427,403 92.3 % See below for the calculation of operating cash flow conversion, which the Company defines as Net cash provided by operating activities from the statement…, Year Ended, December 31, 2024, Net cash provided by operating activities $ 702,068 Adjusted EBITDA $ 1,139,778 Operating cash flow conversion 62 % , Media Contact: Peter Smolowitz, +1 (980) 308-6310, [email protected], Investor Relations Contact: +1 (980) 299-5700, [email protected], View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-reports-fourth-quarter-and-full-year-2024-results-302375042.html SOURCE Albemarle Corporation Type: Article
Type: Event
CHARLOTTE, N.C. , Feb. 17, 2025 /PRNewswire/ -- Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced that Kent Masters, chairman and CEO, is scheduled to present at the BMO Capital Markets 2025 Global Metals, Mining & Critical Materials Conference on Monday, Feb. 24, at 3 p.m. ET. Neal Sheorey, chief…, About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity, and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about…, Media Contact: Peter Smolowitz, , +1 (980) 308-6310, [email protected], Investor Relations Contact:, +1 (980) 299-5700, [email protected] View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-corporation-to-participate-in-february-2025-investor-conferences-302378335.html SOURCE Albemarle Corporation Type: Article
Kent Masters, chairman and CEO, is scheduled to present at the BMO Capital Markets 2025 Global Metals, Mining & Critical Materials Conference on Monday, Feb. 24, at 3:00 pm ET.
Type: Event
Neal Sheorey, chief financial officer, is scheduled to participate in a fireside chat at the BofA Securities 2025 Global Agriculture and Materials Conference on Wednesday, Feb. 26, at 7:30 am ET.
Type: Event
CHARLOTTE, N.C. , Feb. 27, 2025 /PRNewswire/ -- The Board of Directors of , Albemarle Corporation, (NYSE: ALB) announced today that it declared a quarterly common stock dividend of $0.405 per share. The dividend, which has an annualized rate of $1.62, is payable April 1, 2025, to shareholders of record at the close of business as of March 14, 2025., About Albemarle, Albemarle Corporation (NYSE: ALB) leads the world in transforming essential resources into critical ingredients for mobility, energy, connectivity and health. We partner to pioneer new ways to move, power, connect and protect with people and planet in mind. A reliable and high-quality global supply of lithium and bromine allows us to deliver advanced solutions for our customers. Learn more about…, Forward-Looking Statements, This press release contains statements concerning our expectations, anticipations and beliefs regarding the future, including, without limitation, statements related to future dividends and results, which may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from the views expressed. Factors…, Media Contact: Peter Smolowitz, +1 (980) 308-6310, [email protected] , Investor Relations Contact: +1 (980) 299-5700, [email protected], View original content to download multimedia: https://www.prnewswire.com/news-releases/albemarle-announces-quarterly-common-stock-dividend-302387984.html SOURCE Albemarle Corporation Type: Article
Type: Event